An increase in revenues increases net income, and net income increases stockholders’ equity. True or false?.

On December 1, Year 1, Jack’s Snow Removal Company received $6,000 of cash in advance from a customer and promised to provide se

AVprozaik [17]

Answer:

Increase Revenue, Decrease Liability

Explanation:

On December 1, They have recognized a liability of $6,000

with the journal entry:

(DR) Cash $6,000

(CR) Unearned Revenue $6,000

Now, on December 31 let's assume that the expiration is an exact

per month division of $2,000 ($6,000 / 3 months)

The adjusting entry would be:

(DR) Unearned Revenue $2,000

(CR) Service Revenue $6,000

The first effect is clear, there is an Increase in Revenue since

the company have rendered the services.

Now, the second effect is that the Liabilities have decreased

because of the debit to "Unearned Revenue" which is a liability.

4 0

3 years ago

Compared to a country with an MPS of 0.05, a country with an MPS of 0.2 would have to change government expenditures by ________

const2013 [10]

Answer: Four times.

Explanation:

Based on the information given, the government expenditure multiplier in this case goes thus:

K = ∆Y/∆G = 1/1-MPC = 1/MPS

For the first country with a MPS of 0.05, K = 1/MPS = 1/0.05 = 20

For the first country with a MPS of 0.2, K = 1/MPS = 1/0.2 = 5

Therefore, 20/5 = 4.

Therefore, the answer is four times.

8 0

3 years ago

Are the Hopkins eligible to claim the earned income credit?

inn [45]

Answer:

yes

Explanation:

8 0

3 years ago

At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is

IceJOKER [234]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Job 765:

Direct material= $5,670

Direct labor= $3,500

Machine Hours= 27

Job 766:

Direct material= $8,900

Direct labor= $4,775

Machine Hours= 44

Job 765 produced 152 units, and Job 766 consisted of 250 units.

Assuming that the predetermined overhead rate is applied by using machine hours at a rate of $200 per hour.

Costs sheet:

Direct material= 5,670

Direct labor= 3,500

Allocated overhead= 200*27= 5,400

Total cost= 14,570

Unitary cost= 14,570/152= $95.85

Direct material= 8,900

Direct labor= 4,775

Allocated overhead= 200*44= 8,800

Total cost= 22,475

Unitary cost= 22,475/250= $89.9

6 0

3 years ago

Which amendment to a law made it illegal to discriminate based on pregnancy? Which law was amended?

Novosadov [1.4K]

Answer:

I believe it's "The PDA amendment to the Title VII law made discrimination based on pregnancy illegal"

Explanation:

3 0

2 years ago

Read 2 more answers